The world is chock full of business opportunities that are ripe with the possibility of expanding your skills, increasing your bank account balance and more. Of course, there are also plenty of bogus opportunities that can eat away at your time, strip you of cash and more. The ability to distinguish the good business opportunities from the bad is critical if you want to enjoy the greatest level of success in life. So what can you look for in a business opportunity to determine if it is legitimate and may provide you with significant benefits?
Today we have a guest article from Matt Doyle [earlier post from him here] who gives us some tips on “Which business opportunities should one take very seriously”
[ PS : This article might not be useful for readers from India but would be a boon for U.K based readers.]
A surety bond is typically used by companies to provide a contractor with the peace of mind that he or she will get paid on a project. A company can take out a surety bond with a third party provider, and the SBA can also assist in providing a bond guarantee if needed. You may find comfort in knowing you will get paid for your efforts when working with a company backed by a surety bond.
Consider the Motive
According to Brian Tracy, a renowned entrepreneur, you should carefully consider why a company is offering you a specific opportunity. A legitimate opportunity that is worth your time and effort working on may not be an opportunity that is offered to just anyone. If a company is making a blanket opportunity available to many people, you may want to turn the other way. When a company seeks you out for specific skills or talents, there is a good chance that the offer is legitimate.
Check the Company’s Background
It is important to check the company’s background thoroughly before you start doing any work for a company. You can check the Better Business Bureau if you are going to work with a company. If you are offered an opportunity from an individual, the Better Business Bureau may not be helpful. You can consider checking the individual’s credit rating to learn about their financial status, judgments against them and more.
Read Consumer Reviews
You should always carefully review the products, services and overall reputation of a company before working with them. Ensure that the reviews you are reading are posted by individuals rather than by individuals working for the company or by the company itself. Keep in mind that anyone can post just about anything online, so you’ll want to read through numerous reviews on several different websites to form a complete opinion about the company.
Review the Compensation Terms
There are many bogus opportunities available that provide unique compensation terms. Rather than pay you for selling a product or service or for working certain work hours, they may pay you for recruiting people into the scheme. Compensation based recruitment rather than on sales, time or other traditional methods is a likely sign that the work opportunity is a scam.
While these tips can help to steer you clear of bogus opportunities, you should also consider the final step of trusting your instincts. If you are uncomfortable with an opportunity but just cannot put your finger on why, it may be best to walk away from the opportunity.
About the author
Matt Doyle is an expert in surety bonds and when he is not writing you can find him traveling the world one random place at a time.